New York Life Investment Management LLC Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

New York Life Investment Management LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,581 shares of the retailer’s stock after buying an additional 631 shares during the quarter. Costco Wholesale comprises 0.6% of New York Life Investment Management LLC’s investment portfolio, making the stock its 28th biggest position. New York Life Investment Management LLC’s holdings in Costco Wholesale were worth $57,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northwest Wealth Management LLC lifted its holdings in Costco Wholesale by 5.5% during the 2nd quarter. Northwest Wealth Management LLC now owns 420 shares of the retailer’s stock worth $357,000 after purchasing an additional 22 shares in the last quarter. Addison Advisors LLC increased its position in shares of Costco Wholesale by 13.0% during the second quarter. Addison Advisors LLC now owns 156 shares of the retailer’s stock valued at $133,000 after buying an additional 18 shares during the period. Hourglass Capital LLC lifted its holdings in shares of Costco Wholesale by 5.2% in the second quarter. Hourglass Capital LLC now owns 326 shares of the retailer’s stock worth $277,000 after buying an additional 16 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Costco Wholesale by 1.0% in the second quarter. Arizona State Retirement System now owns 128,574 shares of the retailer’s stock valued at $109,287,000 after acquiring an additional 1,239 shares during the period. Finally, Childress Capital Advisors LLC grew its stake in Costco Wholesale by 3.1% during the second quarter. Childress Capital Advisors LLC now owns 1,214 shares of the retailer’s stock valued at $1,032,000 after acquiring an additional 36 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

COST has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Evercore ISI lifted their price objective on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company upped their target price on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. DA Davidson reaffirmed a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a report on Friday. Finally, StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 1.0 %

NASDAQ COST opened at $876.68 on Friday. The stock has a 50-day moving average of $857.45 and a 200-day moving average of $799.68. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $918.93. The firm has a market cap of $388.66 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.